Regulatory Alerts2016-08-09
Added · Updated
FE Circular No. 22: Foreign Exchange Regulations for Enterprises and Developers in Economic Zones
FE Circular No. 22 replaces FE Circular No. 04 to establish foreign exchange regulations for entities in Economic Zones (EZs) in Bangladesh, applying Export Processing Zone rules unless otherwise directed by Bangladesh Bank. It categorizes EZ units into Type A (100% foreign owned), Type B (joint ventures), and Type C (100% Bangladeshi owned), specifying account maintenance, export declaration via EXP Forms, and import procedures. The circular authorizes Type A and B units to remit dividends and Type A units to remit royalty, technical know-how, and technical assistance fees up to 6% of machinery cost or previous year's sales without prior approval, while allowing foreign nationals with valid work permits to remit 75% of net salary and 100% of leave salary.
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